239 [Euphoria fading hard. Newbies getting schooled again. Dec 2, 2020]

  • Euphoria is going away in a big way rn. I don’t think I’m gonna do much today, we’ve had a really good month and usually after a good month it’s nice to take a step back.
  • I’m telling you guys you don’t have to do the parabolic shorts, there’s so much opportunity on the backside. Look at XPEV for eg, you don’t have to find the top on it, there was plenty of opp to add several times, on this breakdown here, then you had this breakdown yesterday. NIO this is one I added myself when it broke down here and then here, you don’t have to find the top on these things. LI same thing, at least one breakdown after the parabolic. PLTR too, this one I nailed the parabolic and I was thinking about doing it but I never added here. You don’t have to do any parabolic shorts, there is so many ways, many opportunities usually.
  • MRNA, when you get something like this you don’t need to look at anything else. Setups like these, that are this liquid they don’t come around often, maybe a couple of times per year. I have tiny 15kshares left. MRNA covering last few shares, but if it fails here, may add more short, if it puts in a red 5min candle or something, may add more on the short side, we’ll see, it’s an important area for MRNA. I was so stressed out when I was short 80kshares here low 170s area, this is what I saw, extremely extended stock, gap up, lhs, you have this range, this is textbook. But I was so afraid it was gonna resolve to the upside, I would have lost like $1M on it if it had stopped me out, it was a serious trade, and then it did this, and I even added here [155s] when it broke down intraday, and then I covered pretty aggressively. My stop on the add was a tight stop, just above this range here, only a few bucks.
  • I sold some longs yesterday, sold my MELI, sold TAN 2/3days ago in hindsight that was a good decision, it’s prob gonna find support on the 10/20day. When you get these euphoria runs, even though the market indices are not extended, I’ve learned that it’s best to size down on the longs, bc usually you have a pullback around the corner, so I’m watching some of my things very closely, I don’t wanna risk giving back any profits on the long side.
  • SQ gonna size down right here, not taking any risks, if it closes below the 10day I’m out.
  • NIO added some orls, there’s no support until the 50day.
  • TSLA I added when it broke down premarket. The China EVs are bouncing, TSLA can’t bounce.
  • JMIA I missed a cover opportunity into lows.
  • AMD yeah it’s on it’s own planet, that’s what happens when you get these kinds of breakouts, these things are very powerful when you get these flags on the weekly, that have been going sideways for 3/4/5months and been building hls for multiple weeks, they can be really powerful.
  • PDD bouncing off the 20day, if it can tighten up for a few days this is gonna be a very good looking htf.
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